What’s worth more than $10,000? Try $25 million.
That appears to be the mindset of an increasing number of bad actors and financial crooks who are to blame for a worrying surge in commercial banking fraud.
After all, why target individuals when you can target high-value B2B transactions?
And, as B2B relationships between consumers, suppliers, and financial institutions grow more digital, fraudsters are adapting their tactics by enticing businesses to visit fraudulent commercial websites and steal credentials.
The consequences of such hacks are serious, with some firms suffering enormous losses.
Phishing emails, fraudulent websites, and social engineering are common methods for deceiving employees into clicking on false links or providing login credentials. Once within commercial banking systems, fraudsters exploit flaws to gain unauthorized access to accounts and carry out fraudulent activities.
That is why it is becoming increasingly necessary for businesses to educate their staff on today’s evolving danger landscape while also investing in their own defenses.
